Effective internal control is of significant concern to regulators, stockholders, management, and other stakeholders in corporations. Therefore, CPAs are getting significant requests to provide assurance about the effectiveness of internal control.

Required: 

a. Explain how providing assurance about internal control provides assurance about the reliability of other information provided by the company.

b. Describe the requirements of the FDIC as they relate to attestation to internal control by CPAs.

c. Describe the broad engagement activities that would be involved in performing an examination of the effectiveness of internal control.